Legacy issues $610,000 of 6.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $579,203 when the market rate is 8%. Problem 10-4A Part 4 1. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 > Record the interest payment and amortization on June 30. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Bond interest expense Discount on bonds payable Cash
Legacy issues $610,000 of 6.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $579,203 when the market rate is 8%. Problem 10-4A Part 4 1. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 1 > Record the interest payment and amortization on June 30. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Bond interest expense Discount on bonds payable Cash
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 8RE
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